Engineering Economy and the Decision-Making Process : Book Review

"Engineering Economy and the Decision Making Process" by Joseph C. Hartman is a comprehensive guide that explores the fundamental concepts of engineering economy and their application in decision-making processes. This book is a valuable resource for engineering students, professionals, and anyone interested in understanding the financial aspects of engineering projects.

Hartman starts by introducing the key principles and techniques of engineering economy, including interest, equivalence, cash flow, and the time value of money. He then explores more advanced topics like sensitivity analysis, uncertainty, and risk analysis. What sets this book apart is the author's use of clear and practical examples to illustrate these concepts, ensuring that readers with different levels of economic understanding can easily grasp the content.

One of the main strengths of this book is its focus on real-world application. Each chapter includes case studies and practical exercises that allow readers to apply the concepts to real engineering scenarios. This hands-on approach enhances the reader's comprehension and ability to make informed financial decisions in the engineering field.

Additionally, Hartman incorporates the latest developments and trends in engineering economy. The book covers topics such as life cycle costing, sustainability, ethics, and the role of technology in decision-making, providing a comprehensive and up-to-date overview of the subject.

Overall, "Engineering Economy and the Decision Making Process" is a well-written and informative book that effectively blends theory with practical application. It serves as an excellent resource for engineering students and professionals, equipping them with the necessary knowledge and skills to make sound financial decisions in their work. Whether you are a student or a seasoned professional, this book will be a valuable addition to your engineering library.

What are readers saying?

Opinions on Joseph C. Hartman's book, "Engineering Economy and the Decision Making Process," were varied amongst readers. Some praised the book for its clear explanations and practical approach to engineering economic analysis, while others felt it was overly technical and lacked sufficient examples.

Many reviewers found the book to be a valuable resource for understanding the principles of engineering economy. They appreciated the author's ability to explain complex concepts in a straightforward manner, making it easier for readers to grasp the material. Additionally, the practical approach to decision making was commended for equipping readers with the necessary tools to make informed choices in real-world engineering scenarios.

However, some readers found the book to be overly technical and lacking in practical examples. It was suggested that additional illustrations and case studies would have been beneficial in aiding their understanding of the presented concepts. Furthermore, the repetition of certain topics throughout the text was seen as a flaw by some.

Additionally, a few reviewers criticized the book's lack of engaging and interactive learning materials. They believed that the inclusion of exercises or interactive online resources would have enhanced the learning experience and made the material more applicable in practice.

Despite these criticisms, many readers still found value in "Engineering Economy and the Decision Making Process." They praised its comprehensive coverage of engineering economic analysis and its relevance to real-world decision making. The book's clear explanations were seen as a strength by many, even if some felt that it could have been more practical and engaging. Ultimately, individuals with a strong interest in engineering economics may still find this book to be a useful guide.

engineeringeconomy decisionmaking economics